Financial Performance - Net sales for the three months ended December 31, 2023, were $4,654,978, a decrease of $1,103,683 (19.2%) compared to the same period in 2022[54]. - For the nine months ended December 31, 2023, net sales were $15,071,204, a decrease of $1,179,902 (7.3%) compared to the same period in 2022[60]. - Net income for the quarter ended December 31, 2023, was $102,176, a decrease of $239,136 (70.1%) from the corresponding quarter in the prior fiscal year[59]. - Net income for the nine months ended December 31, 2023, was $80,881, a decrease of $354,895 (81.4%) from the corresponding period in the prior fiscal year[65]. Profitability Metrics - Gross profit margin increased to 32.3% for the quarter ended December 31, 2023, compared to 29.5% for the same quarter in 2022[55]. - The gross profit margin for the nine-month period ended December 31, 2023, was 30.0%, compared to 28.8% for the same period in 2022[61]. Expenses - Selling, general and administrative expenses rose to $1,310,872 for the three months ended December 31, 2023, representing 28.2% of net sales, up from 20.5% in the prior year[56]. - Selling, general and administrative expenses for the nine months ended December 31, 2023, were $4,068,162, or 27.0% of sales, up from 23.1% in the prior year[62]. Cash Flow - Operating activities provided cash of $225,962 for the nine months ended December 31, 2023, compared to $347,270 for the same period in 2022[66]. - Financing activities used cash of $338,286 during the nine months ended December 31, 2023, compared to $585,850 in the prior year[68].
Universal Security Instruments(UUU) - 2024 Q3 - Quarterly Report